Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1303 Charles St Pad 2 Park Rapids, MN 56470

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial land available as a Walmart outlot.

    Type:Land
    Lot size:
    0.99 Acres
    Added:
    Nov 15, 2021
    Days on Market:
    1603
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 1303 Charles St Pad 2

    General Information

    Standard status
    Active
    Lot size
    0.99 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Thomas Flynn

    Listing agent Thomas Flynn License #OH

    Listing office CBRE - Akron Canton

    Listing date Nov 15, 2021

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Akron Canton

    Overview

    Walmart Outlot Land For Sale

    This 0.99-acre commercial land parcel is available as a Walmart outlot.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Park Rapids
    County
    Hubbard
    State
    Minnesota
    Longitude
    -95.042474
    Latitude
    46.923517

    Nearby Similar for Sale

    • $469,000

      Park Rapids Commercial Opportunity

      Prime location with high visibility on Highway 34.
      109 1st Street E, Park Rapids, MN 56470
      View Details
    • $499,000

      Spacious Pole Barn on 5 Acres

      60'x120' pole barn on 5 acres near Park Rapids.
      31282 US 71, Park Rapids, MN 56470
      View Details
    • $329,000

      Established Pet Boarding Facility

      Premier pet boarding facility in Park Rapids lakes area.
      20151 Eddie Baxter Drive, Park Rapids, MN 56470
      View Details
    • $119,900

      Scenic 12-Acre Land Parcel

      Gorgeous 12-acre land between Long and Belle Taine lakes.
      Xxx 170th Street, Park Rapids, MN 56470
      View Details
    • $34,900

      Park Rapids Land For Sale

      1.39 acre commercial land in Park Rapids, Minnesota.
      Lot 16 Discovery Circle, Park Rapids, MN 56470
      View Details
    • $2,100,000

      123 Acres Wooded Land

      Large wooded land with shoreline, cabins, and recreational trails.
      24965 Hammock Trail, Park Rapids, MN 56470
      View Details
    • $990,000

      Park Rapids Development Opportunity

      8.48 acres of commercial land in Park Rapids, MN.
      Abc Henrietta Avenue, Park Rapids, MN 56470
      View Details
    • $250,000

      Park Rapids Hunting and Building Land

      65 acres near Long Lake, ideal for hunting or building.
      Tbd Arbor Road, Park Rapids, MN 56470
      View Details
    • $34,900

      Park Rapids Land For Sale

      1.78 acre lot in Park Rapids city limits.
      Lot 17 Discovery Circle, Park Rapids, MN 56470
      View Details
    • $1,195,000
      5,000 SF

      Minnesota Lakefront Resort with Cabins

      Lakefront resort featuring cabins and campsites on a pristine lake.
      20035 Grouse Rd, Park Rapids, MN
      View Details
    • $95,000
      297,950 SF

      Park Rapids Waterfront Land

      6.84 acres with 209' of natural shoreline.
      13895 Gazelle Trail, Park Rapids, MN 56470
      View Details
    • $37,500

      Wooded Lot Near Golf Course

      1.13 acre wooded lot near Headwaters Golf Course.
      Tbd Lot 1 Fairway Trail, Park Rapids, MN 56470
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land available as a Walmart outlot.
    Where is this commercial land located?
    The property is located at 1303 Charles St Pad 2 Park Rapids, MN.
    What are key features of this property?
    This property features: Walmart outlot location offers exceptional visibility; 0.99 acre of commercial land; High‑traffic area ensures great exposure
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Thomas Flynn
    Real Estate License ID: OH
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!